Re: Simplest way to handle IRA -> Roth conversion

Posted by danbrown on November 8, 2008, 12:10 pm

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We need more info.

What version of Quicken? What year?

db

Posted by Gary on November 8, 2008, 12:56 pm

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> We need more info.

> What version of Quicken? What year?

> db

Dan-

It's Q2008 Premier.

Posted by Ron on November 10, 2008, 5:42 pm

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"Shares transferred between accounts" will do it, no?

But I'm guessing you'd like the tax liability to be reflected in the event.
I'm interested in how folks do that as well. I have transferred some stock
from an IRA to a Roth this year as well. In the categories window, though,
Q does not permit assigning a tax form to a transfer. It does permit the
account itself to be specified as tax deferred, and transfers - in or out -
to be associated with a tax form. I had correlated transfers out with the
1099-R. But no 1099-R item appears in my tax reports or in the tax planner.
Anyone know why?

Don't mean to hijack the thread. Hoping I'm clarifying the question....

-Ron

Posted by Ron on November 10, 2008, 6:15 pm

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To clarify a bit, I've noticed that when using the "Shares transferred
between accounts" transaction, what actually shows up in the registry of the
donating account is "shares removed" and what shows in the receiving account
is "shares added." (The memo fields are annotated by Q with "Xfr to:..."
and "Xfr from:..." remarks.) I suppose since, technically there's been no
transfer transaction registered, the 1099-R association in the account
settup never kicks in. So how to make it do so...?

(Using Q2008P)

> "Shares transferred between accounts" will do it, no?

> But I'm guessing you'd like the tax liability to be reflected in the

> event. I'm interested in how folks do that as well. I have transferred

> some stock from an IRA to a Roth this year as well. In the categories

> window, though, Q does not permit assigning a tax form to a transfer. It

> does permit the account itself to be specified as tax deferred, and

> transfers - in or out - to be associated with a tax form. I had

> correlated transfers out with the 1099-R. But no 1099-R item appears in

> my tax reports or in the tax planner. Anyone know why?

> Don't mean to hijack the thread. Hoping I'm clarifying the question....

> -Ron

Posted by John Pollard on November 10, 2008, 9:55 pm

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Ron wrote:

> To clarify a bit, I've noticed that when using the "Shares

> transferred

> between accounts" transaction, what actually shows up in the

> registry

> of the donating account is "shares removed" and what shows in

> the

> receiving account is "shares added." (The memo fields are

> annotated

> by Q with "Xfr to:..." and "Xfr from:..." remarks.)

> I suppose since,

> technically there's been no transfer transaction registered,

> the

> 1099-R association in the account settup never kicks in.

Correct.

> So how to make it do so...?

You need to sell the shares in the old account, transfer the
cash to the new account, and buy shares there.

--

John Pollard
First initial underscore Last name at mchsi dot com
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